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Brom 11:50.
"They would also need to raise there 2D estimates. And we assume fund all this.“
Should read 2U prospective estimates ( 280)
Alaska 2.0 = Namibia. - basically infers that Namibia is just starting out like Alaska did. Ie: limited work done, ordering 2D seismic & long way off drilling. Directors cash cow for more promises.
Sorry for delay in response
DYOR
Hollybean. 11:12. The rise is due to PANR getting upgrade of resource and pumping. 88e has no reason to rise at the moment - That should occur next week if the market likes it. I assume the the price will drift back by end of day
DYOR. And I hope I am wrong
Stas20: 10:41. I have re read your post . You are correct and I apologize. I must have read it incorrectly or read another post and responded to the wrong one. Thank you for pointing this out.
Beverley,
88e may eventually lift but to do this it needs 2 more drills, one a horizontal long term and the other to determine the length of the lateral. The latter maybe done through opening up Icewine1 and flow testing (if possible)
They would also need to raise there 2D estimates. And we assume fund all this.
Alaska 2.0 in 3 years time May also be potentially a goer.
IMO not with this management team though.
DYOR
Stas20:10:11
Yes your ramping is working - hope you can sleep at night
Barno61. We know nothing about the 2nd flow test, just that it is progressing and results next week. The point of the post was to advise of the delay.
Taximan the flare was from the first flowtest. Smoke and mirrors = Typical 88e trying to hide the delay and stop the price crashing. Heading to .29 now imo
DYOR
Stas20: ah a self taught idiot!
That is not the way companies are valued. Market cap merely reflects shares x share price fool.
The price of 88e has stayed low because they have diversified using CR’s and foolishly wasted money splitting drill and flow test. 88e just spent US$30 million or so for two 4 day flow tests and even then they can’t do it right!
Longhorn achieving less than 50% of initial budget. CR to purchase - no real return - all spent on workovers.
Why was Longhorn purchased - to pay exorbitant wages.
Namibia what’s that cost - about 8 million? No return yet
Leonis no return yet
Hickory needs a long term horizontal flow test. Ask yourself where will the lateral go?
Read Scot126 valuation of 88e It’s an interesting read.
Book in to PANR Webinar on 10th much of it will be on topics relevant to 88e.
Sharebet, i 88e is not oversold, it’s over diluted.
How many SOI in 2021 and how many now. Share price for the same periods. Do the math.
Consolidation soon
No money after flow test -another CR
Namibia 3 years till drill
$120 US million required for production est
This coy will likely farm out for peanuts to fund Alaska 2.0 Namibia.
Short Term gain is possible, but sp will crash after announcement as per usual.
DYOR. - Don’t get run over rushing to the exit
Sharebet: you’re just as bad as Brom. Seriously mate, 88e is a ST traders dream once a year. It’s a basket case at other times, constantly diluting shareholder value.
Its current assets have been bought using CR’s effectively preventing the sp increasing. Existing LT shareholders are paying the price!
Redirons. How much have you lost on this share as a LT investor?
12:29 Brom,
What nonsense, I am a 88e investor for many years, but any sane person can see that PANR have more proven oil under lease, are further along the production path and have a skilled team in place to maximise opportunities.
A very important point is that the directors have all invested and stand to lose significant money on failure. They also pay themselves less and are not milking the company for outrageous bonuses.
Only a fool would suggest 88e is anywhere close to achieving success. Get rid of this management team and do what they say they will do would be a good start.
Stop spreading that sort of absolute rubbish Brom. You should be ashamed of yourself!
Sharebel, Rubbish Stop ramping
Tommy: no chance of 1p imo
Taximan57, ASX The vast majority of trades were .006-.0065. About 1 million went through after close for .007. Total volume for the day was 91 million.
Imo the trades after close was for lse benefit - they do not appear to reflect Aus sentiment.
Autocorrect.
Taximan, ?????
Musk you’re talking rubbish again. You got a 45% rise yesterday, it was always going to retrace. It will continue doing so until just before the second result. Imo
I would not expect it to rise higher than the first peak. - too many LT holders will dump
Ir4850. Single hole so yes the drill passes through the 2nd testing reservoir before reaching the first. The higher reservoir is isolated so as not to interfere with the lower zone being tested. In the first test a 20ft open casing was used.
The next zone will likely flow better than the lower zone as it is less compressed geologically. Given that the first zone yielded 70 bopd we can reasonably assume Hickory to be worthy of a long term horizontal test imo. So the market will factor this in.
The cost of a horizontal with SA hot tap into theTAPS has been estimated by PANR for Alkaide at around $120 million (I think)
Austin14. Calling people a lowlife, because they have a negative view reflects poorly on your character. My advice is to do better research